Amalfi Capital Corporation Announces Transaction Update

Amalfi Capital Corporation (TSX VENTURE:ALI.P) ("Amalfi" or the "Corporation")
is pleased to provide an update regarding its previously announced arm's length
business combination (the "Business Combination") with CDR Minerals Inc.
("CDR"). Pursuant to the Business Combination, a wholly-owned subsidiary of
Amalfi will amalgamate with CDR and continue as one company under the Business
Corporations Act (Ontario). The Business Combination, if completed, is expected
to constitute Amalfi's Qualifying Transaction for purposes of Policy 2.4 (the
"Policy") of the TSX Venture Exchange Inc. ("TSX Venture") Corporate Finance
Manual. 


The TSX Venture has granted the Corporation an extension allowing it to complete
its Qualifying Transaction by May 20, 2010. Closing of the Business Combination
is expected to occur on or before May 20, 2010, pending completion of the
concurrent private placement of CDR on terms as previously announced on December
21, 2009 and January 6, 2010. 


Further information on the Business Combination may be found in the Filing
Statement of the Corporation dated March 29, 2010, as filed on SEDAR.


The completion of the Business Combination is subject to a number of conditions,
including but not limited to, TSX Venture acceptance. There can be no assurance
that the Business Combination will be completed as proposed or at all. Investors
are cautioned that any information released or received with respect to the
Business Combination may not be accurate or complete and should not be relied
upon. Trading in the securities of the Corporation should be considered highly
speculative.


Except for historical information contained herein, this news release contains
forward-looking statements that involve risks and uncertainties. Actual results
may differ materially. Neither Amalfi nor CDR will update these forward-looking
statements to reflect events or circumstances after the date hereof. More
detailed information about potential factors that could affect financial results
is included in the documents filed from time to time with the Canadian
securities regulatory authorities by Amalfi and CDR.


The securities of Amalfi being offered have not been, nor will be, registered
under the United States Securities Act of 1933, as amended, and may not be
offered or sold within the United States or to, or for the account or benefit
of, U.S. persons absent U.S. registration or an applicable exemption from U.S.
registration requirements. This release does not constitute an offer for sale of
securities in the United States.